Energy and Mining
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The aims of the fifth Adaptable Program Loan for the development objectives of Energy Community of South East Europe Program are to: (i) contribute to safeguarding the major hydroelectric plants of Albania (Fierza, Koman and Vau i Dejes dams on the Drin river); and (ii) improve their operational efficiency and enhance the stability of power supply for the regional electricity market. The project’s main impact will be to prevent a possible catastrophe resulting from a dam failure. Such a catastrophe can result in significant loss of life and damage to property of persons living in downstream…
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An EBRD funded project for reviewing the existing legal and regulatory arrangements in Albania and developing secondary legislation and regulatory rules is underway. The aim of the project is to assess the technical options for the solar PV support programme (e.g. size, location, etc.), provide recommendations to the Albanian authorities in this respect and provide implementation support to authorities for the support programme.
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An EBRD funded project, assisting the Albanian Gas Transmission System Operator ALBGAZ SHA, aiming to setting up a regulatory unit with the objective of implementing the gas transmission tariff regulation, operationalizing the network code and developing a gas transmission CAPEX planning procedure.
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SEE Legal's Albanian member's team, led by partners Enkelejd Seitllari and Jola Gjuzi, advised Turkish Airlines on the negotiation and incorporation of Albania’s new flag carrier, Air Albania. Air Albania launched its first test flight on Friday and is expected to start commercial flights soon. Turkish Airlines holds 49% of Air Albania’s stakes, while the remaining stakes are being held by two other shareholders, respectively Albanian State represented by Albcontrol (10%) and MDN Investment SHPK (41%).
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SEE Legal's Albanian member acted as local counsel to Societe Generale S.A. on the sale of its majority stake in Société Générale Albania (SGAL) to OTP Bank. With a market share of nearly 6%, SGAL is the 5th largest bank on the Albanian banking market, active in both retail and corporate segment. The closing of the transaction is expected to take place in the coming months, subject to receipt of clearances from the relevant banking and antitrust authorities, and relevant third party consents. KALO & ASSOCIATES' team was led by partner Aigest Milo.
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The Albanian Power Corporation (KESH SHA), as the largest hydro power producer, has designed to construct a 118,000sqm floating solar panel over the Lake Vau i Dejes, avoiding land occupation and better use of the solar energy over the water. The power of this floating photovoltaic plant is projected to be 12.9mwh and is expected to generate 17.4 million kh energy per year. The life expectancy of the infrastructure is 20 years.
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A project for the construction of the photovoltaic plant for the generation of electricity with installed capacity of 50 MW, as part of the Support Measures in the Akerni Zone (Vlora) and the construction of additional capacity of 20 MW up to 50 MW, which will not be part of the Support Measures, is in the pipeline. The duration of the project is estimated to be 30 years, with the right of renewal. The area where the project will be developed is the Akerni Area, Vlora Municipality, which is one of the most favourable areas with high solar radiation and a solar energy potential of more than 1600…
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K&A’s team, led by Partner Aigest Milo, advised Transcom Holding AB (”Transcom”), the global customer experience specialist, in its expansion in Albania. Transcom has signed an asset transfer agreement to take over a site in Durres, Albania, currently operated by Transcom’s partner. The site in Durres has been delivering services to Transcom clients since 2013. For Transcom, taking over the site with over 500 highly qualified multilingual employees, will strengthen Transcom’s European nearshore and multilingual services. “No matter where in the world our clients’ customers are,…
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Flavia Xhafo, Senior Associate at KALO & ASSOCIATES discussed Albania’s potential in developing other sources of renewables, such as solar or wind power plants, in addition to hydropower plants, generating more than 95% of the electricity in Albania. In February 2017, the Parliament approved the new law on Incentives for Using of Energy from Renewable Sources (the “2017 RES Law”), which is partially aligned with the EU RES Directive No. 2009/28/EC, as part of the Acquis – an obligation Albania has as a potential candidate for accession to EU. The 2017 RES Law establishes the broad…
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KALO & ASSOCIATES acted as Albanian legal counsel to handle the Albanian aspects of the creation of a full-function joint venture company between Bayerische Motoren Werke Aktiengesellschaft (“BMW”), Daimler AG, Ford Motor Company and Dr. Ing. h.c. F. Porsche Aktiengesellschaft (on behalf of Volkswagen Group) to develop, establish and operate a high-power, multi-OEM-owned-and-controlled, inter-city charging infrastructure for battery electric vehicles in Europe that will develop into a profit-making, self-sustaining business.
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KALO & ASSOCIATES acted as local legal counsel to Intesa Sanpaolo S.p.A., Italy, in the process of acquisition of the 100% share capital of Veneto Banka SHA. The main focus was on the retransfer of the NPL portfolio as part of the overall acquisition process as well as notification of the transfer of shares to the Albanian authorities.
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Albania hosted the largest business mission of 200 big business organizations coming from Italy. In addition, some other 200 businesses already active in Albania joined. Important institutions like SACE, FINEST, SIMEST, ABI, etc. were present, too. The Albanian Prime Minister Edi Rama and some of the ministers welcomed the mission and spoke on advantages of doing business in Albania. Albanian economic priorities for the time being are Tourism, Energy and Agriculture. The SEE LEGAL member firm, KALO & ASSOCIATES, that has very good track records in assisting Italian companies, attended…